Sunday, November 6, 2011

If you are wondering how to pay for kids college tuition, we have answers for you. All it takes is a little financial planning. The earlier you can start to save for your child’s college tuition, the better.

If you have children and don’t have a college plan in place, you may want to start thinking about starting one soon. Here are 4 ways to prepare for your kid’s college education:

1. Start saving today. One thing is certain – you can never save too much money or plan too far ahead for your child’s education. College expenses are soaring around the country at all-time highs. It’s a good idea to create a college saving plan and implement it a soon as possible. Even saving a little each week is better than no savings at all.

2. Plan ahead. Many parents think planning ahead only means saving money. While this is true, there are other things you should take into consideration well before your child is ready for college. Colleges often require an application fee when your child submits their application for approval. If your child applies to several colleges or universities, these fees alone can add up very fast. Start checking into every aspect of the application and college processes. Educate yourself on these extra fees and expenses so that you can plan for them accordingly.

3. Don’t rely on school counselors alone. Be proactive in your child’s post-graduate education. School counselors can be helpful, but often have a huge workload. Stay in contact with your child’s school counselors, teachers and administrators. Ask how you can help, or what extra measures you need to take as a parent. Take an active part in learning what scholarship and financial aid programs your child should apply for. Your child may be able to apply for several types of financial aid regardless of your income.

4. Involve your kids. While you should take a hands-on approach to your kid’s college education, don’t do all the work for them. Let them fill out forms, pay application fees, and ask questions. Help them create a financial plan for their college years and even save up for some of the costs.

Saturday, October 29, 2011

Debt can be overwhelming, especially when we’ve taken on too much of it. It looms over our heads, overshadowing everything else at times. Getting into debt has become easier than it once was, and one of the results is more people who have trouble making ends meet.

It may seem impossible to get out of debt. But if the problem is recognized early on, it can be fairly simple to do so. If you have financial problems, here are five ways you can eliminate your debt and get your finances back where they should be.

1. Pay more than the minimum payments. Ideally, we should pay off our credit card balances every month, but sometimes we don’t or can’t. Paying more than just the minimum payment will allow us to pay off our debts much faster. It also has the potential to save us a lot of money, because the quicker we pay credit cards off, the less interest accrues.
This also holds true for mortgages, car loans, and any other type of loan. Some loans have prepayment penalties, but it’s best to avoid them anyway. For any loan that doesn’t, paying it off early is a good thing.

2. Cut back on your expenses, and put the extra money toward paying down your debt. If you examine your budget closely enough, you will likely find many areas where you could save money. Just taking your lunch to work instead of eating out can save you a substantial amount.

3. Sell things you don’t need. Do you have an extra vehicle, or anything else of value that you don’t use or need? Even just gathering up some things and having a yard sale could help you raise money to put toward your monthly payments. Every little bit helps.

4. Find ways to make extra money. You could take on a second job, do some babysitting, or sign up with a direct sales company. If you put all of your extra money toward paying off your debts, you shouldn’t need to do this for very long.

5. Consolidate your debts, but do so wisely. The best way to do this is to transfer all of your balances to a low-interest credit card. That will usually result in lower minimums, but keep on paying as much as you can to get the debt paid off. Avoid using home equity loans or other secured loans to consolidate if possible, because that will put your property at risk unnecessarily.

Getting out of debt may be easier than you think. Often a few minor adjustments are all that’s needed to eradicate a debt problem, especially if it is attended to early on. Then you can learn from your mistakes and keep your debt manageable.

Saturday, October 22, 2011

You’ve recognized that you have a debt problem, and you’ve come up with a plan to get rid of it. You’ve made a budget, you’ve cut back where you can, and you’ve allocated funds to put toward each of your bills each month. My best and most important tips to pay off debt all revolve around the same topic – Stick To Your Plan. Here they are.

Sticking with a debt relief plan is the hardest thing for many people to do. Part of the problem is that many debtors just aren’t good at managing their finances, and that is part of the reason they got in too much debt in the first place. Others had their debt under control until they lost a source of income, and they have trouble adjusting.

There are things we can do to help us stick to our debt relief plans. Here are some ideas:

* Eliminate the source of temptation. If you have trouble saying no to purchases when you have a credit card in your pocket, put all of the plastic away in a safe place. If just knowing where the credit cards are tempts you to use them, have your spouse or someone else you trust hide them.

* Write down all of your expenses. Many planners have budget pages you can use for this, but a notebook will work just fine as well. Writing down the exact amounts that we spend and what they were spent on holds us accountable, making us less likely to slip up.

* Close accounts when they are paid off. An account with a zero balance can be too much temptation for some people to withstand. If you think it will be too much for you, simply close the account and be done with it. Keeping only the account with the lowest interest or most favorable terms will allow you to obtain credit easily enough if you need it after you’re all caught up.

* Shred credit card and loan offers as soon as you get them in the mail. When you’re already in too much debt, the worst thing to do is to acquire the means to take on more.

* Don’t beat yourself up if you slip up. Just pick up where you left off and keep paying down that debt. Too often, debtors make mistakes and decide that it’s just too hard to pay their debts off, so they go back to their old habits. But one mistake is not the end of the world, and if you keep trying you will eventually eliminate your debt.

Coming up with an effective plan to pay off your debt is quite an accomplishment. Sticking with it can be difficult, but it is imperative if you want to get rid of your debt. By getting rid of temptation and holding ourselves accountable for our spending, we can greatly increase our chances of success.

Sunday, October 16, 2011

Foreclosure is a word that strikes fear into the hearts of homeowners. And unfortunately, it’s a word that we hear quite often these days. An alarming number of homeowners are going through it, or coming dangerously close.

In many cases, foreclosure is avoidable. But most homeowners have little or no knowledge about how to save their homes. This causes them to make mistakes that put them in even greater danger. Here are some common mistakes to avoid at all costs:

* Don’t wait until the sheriff is knocking on your door to get help. The time to start looking for solutions is when you first start having trouble keeping up with your payments. Unless you’re absolutely sure that it’s a temporary situation and you’ll be back on track next month, contact your lender immediately and discuss your options. If you can get something worked out before the foreclosure process begins, you’ll be more likely to keep your home.

* Don’t waste a lot of energy placing blame. Whether you think the foreclosure is your own fault, your spouse’s or someone else’s, playing the blame game will get you nowhere fast. Try to forgive yourself or the other party and work toward a solution.

* Don’t run from your lender. It’s easy to toss letters in the trash and stop answering the phone, but avoiding your lender won’t help matters. You need to explain your situation and try to get the lender to work with you. And you can’t accomplish that by giving them the silent treatment.

* Don’t agree to a payment plan you can’t afford. Lenders often propose that homeowners who have missed payments make increased payments for a while until they catch up. But if you could make more than your regular payment, you probably wouldn’t be in such a situation to start with. Don’t agree to an unaffordable payment plan just to get them off your back. Keep negotiating until they come up with something that you can afford.

* Don’t give the lender too much information. It’s important to be honest when answering the lender’s questions, but don’t provide information that they do not ask for. If you do, it could hurt your chances of getting your loan modified in a way that is acceptable.

* When requesting a loan modification, don’t rush through the paperwork. Make sure you fill everything out completely and accurately. If you have questions, ask. This is something that you need to do right the first time, because if you mess up, it could cost you time that you don’t have.

It can be difficult to keep your head on straight when you’re facing foreclosure. But do your best to remain calm and rational and avoid these mistakes. If you play your cards right, you can often prevent foreclosure and get back on track with your payments.

Tuesday, October 11, 2011

One way to repair your credit is to reconcile your debit. Here are some great tips on how you can start repairing your credit through debt consolidation.

Although everyone’s economic status and situation is particular, almost all of us are in some sort of debt at any given time. This can mean small debts like credit card bills or in-store financing, as well as larger ones like outstanding loans and mortgages. What this means is that almost everyone is dependent on being allowed a certain amount of credit, and without credit many things that you take for granted will become difficult. The key to your credit status at any given time is your credit report that is maintained by a credit bureau. Once you fall into default, or miss payments to your creditors, your credit bureau will receive notice and you will find yourself saddled with a poor credit rating. Effective credit repair involves many different steps, and is particular to each individual’s situation. A good solution for most people in terms of credit repair, however, is debt consolidation.

One of the most important things in credit repair is to act quickly. Although your credit rating will become damaged as soon as you begin to miss payments to your creditors, it will get continually worse if you continue to do so. Many people get confused into thinking that credit is either “good” or “bad,” and that once they get into trouble with a creditor it’s fruitless to try and rectify it. The opposite is true, however, so even if you are in bad standing with creditors, credit repair requires that you pay off your debts as quickly as possible.

The problem, of course, is that you probably don’t have the money to pay off the debts, after all, your economic situation probably was the reason for the missed payments in the first place. It is for this reason that debt consolation can be an excellent tool in credit repair. It works by consolidating all of your debts into one loan. In other words, if you have multiple outstanding debts, you take out a loan from one company, use that loan to pay the debts, and then make payments only on that loan.

What debt consolation achieves is some flexibility in situations where your debt is becoming unmanageable. Although you will ultimately owe the same amount of money, you could get a debt consolidation loan over a long term, so that your monthly payments will drop. Most importantly, debt consolidation immediately puts you back on solid footing with your creditors, and ultimately bodes well for credit repair. Things won’t be perfect, but your creditors will report that you have cleared up your debts, and so the process of credit repair can begin quickly.

Debt consolidation is an important tool in credit repair because it allows your status with creditors to change very quickly: you go from someone on bad terms with multiple creditors to someone on good terms with a single one. It allows you to stop the damage before things get out of hand, and gives you the breathing room you need to engage in credit repair. In this way intelligent debt consolation is a valuable tool in credit repair.

Thursday, October 6, 2011

Using the right motor oil can save you money on gas. Learn more about how the motor oil you use can make a difference in your car’s gas mileage.

When it comes to maintaining your car for fuel saving, using the right motor oil can make a real difference. Synthetic motor oil can vary widely, and along with it, so can the performance of your car. There are many manufacturers of motor oil out there today, but though there are many of them, not all of them are created equal. Smart car owners make sure that they keep well informed as to which synthetic motor oil will deliver the best performance.

First of all, I will offer you a little tutorial if you don’t know anything about motor oil. What is the difference between synthetic motor oil and non-synthetic motor oil if probably your first question. Basically, it’s the difference between synthetic oils and refined, or more often called mineral oils. All mechanical systems in your car such as engines and transmissions, are made up of many moving parts. When these parts come in contact with one another, they have to be able to move smoothly, with minimal friction or they will break. Friction causes your fuel efficiency to be decreased. This also causes overheating, and damage to these parts.

This is why some kind of oil is needed for so many mechanical systems. The more efficiently these moving parts move, the better the overall performance of the entire mechanical system will be. Without this much needed element in the system, the whole thing will not perform up to par, and it will wear down, and eventually destroy itself as a response. When it comes to the engine, transmissions and other car parts, the typical lubricant to use in your car is refined petroleum.

Petroleum is basically just refined from its regulated state by separating it into light and heavy sections, making it easier to run in machines than crude oil. Today, refined oil remains to be the cheapest type of lubricant to create for the manufacture. However, there are major problems that go along with using refined petroleum. Though the refining process can separate the oil by how heavy it is, it can’t distinguish among the widely different shapes that you find in mineral oils. These irregularities cause wear and tear on an engine, which messes up its parts.

The point here is that they had to make improvements on this motor oil. In the past thirty years, synthetic motor oil has been invented from a chemical, not mineral, process which helps to create molecules that are all the same size and shape. This new type of motor oil proved to be easier on engines, which lets them perform like they never could before, and in these new changes in motor oil, came a better running engine and more fuel efficient car.

Friday, September 30, 2011

If you have to have a suv, consider getting a hybrid suv to save gas. By using alternative forms of energy, you can cut down on the money you have to spend on gas to fill up the huge suv tank.

Despite the huge rise in fuel costs thanks to the war in Iraq and Hurricane Katrina, people still need and insist on keeping the versatility that they can get with sport utility vehicles (SUVs). Kids sometimes have to take the ferry to school and soccer practice, the dogs still insist on going to the vet or the groomers, and we still have to make our weekly trips to the grocery store just to stay alive and content. Minivans, although they are extremely useful, do not have the style of most SUVs, and sedans, even though they generally are more fuel-efficient. They just can’t duplicate the commanding view of the road that oyu can get form your SUV.

You can get an SUV in a hybrid make as well. Hybrid power trains, which are available in sedans and small cars for the past several years, will soon be widely available in SUVs as well. Ford was the first manufacturer to introduce such an awesome vehicle to the market, For example the Ford Escape Hybrid, but other manufacturers are running closely behind them.

The Choices that will eventually be available will include the Saturn VUE with BAS (Belt Alternator Starter Hybrid System), Toyota Highlander Hybrid, the Lexus RX 400h, a hybrid Mazda Tribute and we all know that everyone else will follow. While hybrid alternative vehicles can now offer a substantial jump in fuel economy, they also require a similar jump in price just to be able to cover the cost of developing this new technology. That’s something that you really need to think about when evaluating overall ownership costs.

In addition to hybrids, there are other cost effective SUVs on the market that can really help to make the high price of gas more tolerable, but as with everything else these days, there are certain concessions that have to be taken into consideration. The most economical vehicles tend to be smaller or midsize, with either front or two wheel drive and they feature the smaller engine that has less horsepower, four cylinders instead of six which also have standard as opposed to automatic transmissions. As the list of standard and optional items for the car gets bigger, fuel mileage will also decrease.

When you start using the most current EPA data, you can easily learn that there is a list of the most fuel-efficient SUVs that are on the market. If you also start considering base sticker price and cargo capacity you just get a good deal. If you want to make a quick comparison between the two of them, fuel mileage for all or four wheel drive is also provided. Your behavior while driving will also play a huge role in this as well. So do not think that these ideas are set in stone.

Monday, September 26, 2011

It is worth the cost to clean your fuel system because of the gas you will be saving. Improve your gas mileage and save on gas with a clean fuel system.

When it comes to saving money on your fuel, part of that is regular car maintenance. After all, a car that is suffering from major problems is going to cost you far more than just the cost of gas. For regular engine maintenance which can actually save you much cash on gas, many mechanics recommend that you begin using a quality fuel additive such as a fuel systems cleaner. The reason for this is that there are harsh impurities in gasoline that, if left on their own without treatment, can cause build-up and gum residue to form in the fuel system. These deposits can really cause a problem for the injectors, intake valves, and nearly every part of the fuel system as well.

Fuel systems cleaners are a strong product that can both clean up the deposits in the fuel system as well as prevent them from forming again in the future. If you have been running untreated gasoline though your car’s engine, there may already be residue building up on the inside of your car. If you do this by mixing 12 oz. or so of fuel systems cleaner with 12 gallons (full tank)of gas you should be able to remove any current deposits that have formed in your fuel lines or valves.
Fuel conditioners can also keep residue from forming in your car’s fuel system. Good fuel conditioners, or fuel stabilizers, will also help to prevent varnish or gum from building up in the engine, and remove any moisture that may have developed from condensation. This will defiantly help to make fuel stabilizers are a popular product for effectively winterizing your boat too.

There are many different manufactures of fuel systems cleaner available today. Online forums often have reviews of various fuel additives. Some of the most popular fuel cleaners out there are those from Quaker state, Valvoline, and Mobile. These are some of the better ones. I often use STP in my car’s fuel system and I always add it when the car is filled with gas.

Fuel injector cleaners are a great way to help slow down your car’s gas guzzling. Some people will tell you that it does nothing, but experience tells me that they are wrong. It also helps to make your engine run more quietly too. Other additives to your fuel system can not just keep the gas tank clean from resin but it can also help to keep things like the engine itself clean as well. Some of these products run through your engine and help your pistons etc. I love modern mechanical ingenuity. It is all geared toward saving me time and money!

Monday, September 12, 2011

You can save money on gas just by changing how you drive. Give some of these tips a try to improve your car’s gas mileage.

How you drive your car can determine how much money you will spend on gas as well. Here are some tips on driving your car as a way to save money on gas:
* If you have a standard transmission you should always drive in the highest gear possible. You need not keep switching.
* In many cars its gas efficiency will go down by 10% if you have the air conditioner running while you are moving. If you have a lower temperature setting on you’re A/C, use it. Turn it on until the car gets cooled down and then turn it off and let the fan circulate the cool air around instead. You should never run your AC with your windows open either.
When it comes to cars that were built after 1990 you don’t need to warm your car up in the morning. I would suggest that you drive the car gently in the first 5 minutes. The engine actually warms up better if it is driving instead of idling in your driveway.
* Driving the speed limit will help you out a little as well. Maybe by as much as 10%.
* Accelerate slowly when you are leaving the stop light. You are not in a race with the driver in the lane next to you. The fastest person through the intersection just gets to spend more money on gas. If you follow the tip for early shifting up, you won’t be accelerating all that much anyway.
* Try buying 87 octane gasoline which is regular. Read your car manual. Some vehicles are advertised telling you to use premium gasoline, but the owner’s manual actually says that 87 is fine.
* Turn the engine off when you’re stuck at a light or waiting for a train to pass and when you expect not to move for a few minutes. When the engine is idling and not moving, you end up with 0 mpg.
* Revving the engine is a huge waste of time and gas as well. Unless there is a mechanical problem with your car, there is no need to bother doing this before you turn your vehicle off. Consider fixing the actual problem instead before it turns into a more expensive problem later on.

Thursday, September 8, 2011

Here are 7 simple ways to save on gas. Spending less of your hard earned money on gas doesn’t have to be complicated. Give a few of these simple tips a try and see if you can’t save on gas.

Saving money on gas is not as hard as you may think it is. According to some recent statistics from the U.S. Department of Transportation, most Americans drive an average of 29 miles and spend somewhere around 55 minutes a day in their cars. If you add this to the fact that the national average for car fuel efficiency is somewhere around 24.4 miles per gallon. If you want to save money on gas, here are some great tips to help you.

1. Get a credit card for your gas purchases. Some credit cards offer you great gas savings when you use it. This works in much the same way that some credit card companies give you frequent flyer miles when you use their card for purchases.
2. Get a gas membership card. Some gas stations offer awesome money saving membership benefits. There are also department and grocery stores that give discounts that are good at the fuel pump when you use their store cards.
3. Give your car a tune up regularly. While giving your car a tune up won’t actually save you money at the pump, it will save you gas over the long run. Using less gas saves you money. You should also have the oil changed, and have a certified mechanic give your engine a quick look too.
4. Check the internet for good deals. Web sites let you find the best deals in your area without having to drive around looking for them which just costs you more gas money.
5. Invest in a hybrid car. Not only do hybrid cars give you fast and immediate savings at the pump, the U.S. government and your local state both are willing to offer tax breaks for people who use gas-saving cars. Federal income tax deductions for using gas-saving cars can be as high as $2000 per year. If you can’t afford any of the hybrid cars that are out there, you will have to consider getting a regular car that offers good MPG (miles per gallon), like the Toyota Echo.
6. Turn off the air conditioner. Running your car’s air conditioning puts extra strain on your car’s engine which costs you more money in gas. This actually makes it so that your car eats up more gas per every mile that it is driven. You have to use Use less gas, in order to save money. Depending on the car you drive, at highway speeds, the air conditioner might put less drag on the car than if all the windows are open instead. So, you might want to chill out a bit when you are on the highway.
7. Use the cheapest gas that you can. Most of today’s modern cars run just as well with the cheap gas regular unleaded; as they do with the more expensive or premium gas. In fact, engineers assume the car buyer is going to use the cheap gas, and because of this they actually design the car’s engine that way.

Monday, September 5, 2011

Having kids isn’t an inexpensive endeavor. From the time they are born, you will find yourself spending on food, clothing, cribs, strollers and various gadgets and accessories to either keep them safe or entertained. It’s easy to overspend and the thought of all these expenses can be rather intimidating. But never fear. There are plenty of ideas to save money with a baby. Here are a few.
* Solicit hand-me-downs. Babies don’t stay in those tiny clothes for long, so by the time they outgrow them, they’re rarely worn out. If you have a friend or family member who has recently had a baby, ask if she has any clothes that you could take off her hands. And don’t stop with clothes. Those with older children might have cribs, strollers and other items that they’re no longer using and would love to get out of the way.
* Breastfeed. Not only is breastfeeding less expensive than buying formula, bottles and nipples, it’s also better for your baby. And for those middle-of-the-night feedings, it’s quicker and more convenient than warming up a bottle. You’ll need to take care to eat well so that the baby gets all of the nutrients he needs, but that’s something that’s important to do anyway.
* Keep your diaper costs as low as possible. Cloth diapers can save you a ton of money if you don’t mind washing them, and they’re better for the environment than disposables. If you can’t bring yourself to use cloth diapers, try generic disposables. They’re often just as good as the name brands, and they cost much less.
* Shop at second-hand stores. You can find great deals on gently used baby items at many such stores. Some will also accept trade-ins, so you can bring in items that your baby can no longer use and get credit toward things you need.
* Consider getting a baby sling to carry your little bundle of joy in. They make great substitutes for strollers, carriers, swings and bouncy seats, and you can get them cheaper than any of these. An added bonus: they keep baby feeling snug and secure, so there’s less crying and more bonding.
* Use soft baby washcloths and baby wash instead of disposable wipes. You can soak the cloths in a solution of baby wash and water, wring out the excess, and put them in a Ziploc bag to use when you’re out. Just keep another bag to put the dirty cloths in, wash them when you get home, and reuse.
There are lots of expenses associated with a new addition to the family. But if you’re diligent about finding good deals, you could save hundreds of dollars on baby needs by the time your little one is a toddler. So don’t be afraid to shop around, buy second-hand and make use of hand-me-downs!

Tuesday, August 30, 2011

The FTC (Federal Trade Commission) has a Fair Debt Collection policy to protect consumers. Knowing your rights will put off even the most determined collector since they already know the law and are pressing you on the assumption that you don't.

Debt collectors are NOT allowed to harass, abuse or oppress you or other individuals on your behalf - that includes obscene language, threats of violence or repeated calling in an effort to annoy.

They are not allowed to misrepresent themselves as government agents, attorneys or representing a credit bureau if they are not. They cannot imply they are sending legal documents if they aren't or that you've committed a crime, if you haven't.

They cannot imply legal action, including seizing property or garnishing wages unless they are legally allowed and intend to do so.

You can find out more about your rights from the FTC. If you want to report an agent you can do so by contacting the FTC or your Attorney General. If they are breaking the law you have the right to sue.

Thursday, August 25, 2011

Ask any family what a significant fraction of their monthly income goes to and they will say its food. We all need to eat and most people also want to keep their families healthy by purchasing and preparing meals that are good for them.

For a growing family of four this can be a challenge. Food is not inexpensive and if you’re feeding children it can seem as though they are always eating. When it comes time to set a family budget, you have to consider not only what you are eating, but what it is costing you.

One factor that many people don’t calculate into their food buying budget is the price of eating out. They may view this as separate from their weekly grocery bill, but the cost can be significant and should be considered.

If you are eating away from home more than twice a month, you might be doing the food portion of your family budget a disservice. Eating meals out, whether they are from a fast food establishment or a four star restaurant are costly. You are not only paying for the price of the food, but you are also contributing handsomely to the preparation costs along with the overhead of the restaurant.

It’s lovely to have someone else cook for you and often this is the impetus for people to dine out. They are too tired from a stressful day to even consider the idea of putting on an apron and whipping up a dinner. Instead they look to the take-out menu or buy a pre-packaged dinner that costs several times what the individual ingredients would.

If your job is to set a family budget, you should not only look at ways to cost food costs but also consider who is responsible for preparing the meals. If one person has to plan the menu, purchase the food and prepare it, that can become monotonous and can actually lead to a family spending more money on food because there is a greater temptation for that person to want to get away from the kitchen on occasion.

When you are sitting down to set a family budget include all members of the family. In addition to planning an affordable meal plan, also prepare a shopping and cooking schedule. Perhaps everyone who is old enough to cook could take an active role, taking on the chore for one evening a week. This approach works well because everyone gets involved and the person who was normally the family’s chef, now enjoy the luxury of being catered to.

With some alterations and planning your family’s food costs can be decreased dramatically. Choose menu plans that feed not only your appetites but fit into your bank account. When you set a family budget consider the idea of eating meals that contain costly ingredients like meat less and meals that contain fresh vegetables more. Not only will you save money but you’ll also gain the benefit of a healthier body.

Saturday, August 20, 2011

Small expenses can equal a big chunk of a families’ budget. When you spend a few dollars at the movie theater or have dinner out once or twice a week, those seemingly minor expenses can quickly accumulate into a lot of money. Often, we don’t realize how much until we actually write it down.

A great first step when you get ready to set a family budget is to journal your daily expenses. This can feel like a time consuming and tedious task but the benefits far outweigh any frustration.

All you need to do is purchase a small note pad that you can keep either in your handbag or your pocket along with a pen. Whenever you purchase anything, you jot it down on the note pad. It doesn’t matter if it’s something as insignificant as a package of chewing gum or a bottle of water. You must mark down the item, the time of day you purchased it and the price. Do this all day, including everything you spend money on.

When it’s time to sit down and set a family budget, each family member can present their note pads. This way all money being spent can be accounted for. Doing this enables the person who is responsible for the budget to get a clearer view of what money is being spent on. Making an effort to journal expenses also provides the family an opportunity to review their expenses and determine what non-essentials are soaking up resources.

One area where many families spend a great deal of money without realizing it is on convenience or fast foods. Stopping at a corner store to purchase a sandwich each day can add up to a substantial amount of money over a month. The same can be said for items such as soda or juice from a vending machine. On average, these items cost several times more when coming from a vending machine, than they do if they are purchased at a grocery store in the form of a dozen or two dozen carton. If you add those savings up over the period of a month and multiply that amount by four family members, that’s a nice sum of money.

Taking a few days to keep track of daily expenses is invaluable information when it comes time to set a family budget. It puts a spotlight on unnecessary expenses. Armed with this arsenal of information any family can find ways to save money. For instance, if your child is purchasing a candy bar on their way home from school each day, buy them in bulk and keep them handy so they can grab one before they leave for the day. The same can be said with bottled water. Buying a case cuts the cost per bottle substantially and if you stock them in the refrigerator, they made for a cool and cheap treat.

Investing a few minutes to write down what you’ve purchased can save a good deal of money each year. It’s a task that every family member can take part in and also reap the financial rewards from.

Sunday, August 14, 2011

One of the aspects of family life that people rarely enjoy dealing with is to set a family budget. It can be an arduous task filled with disagreement. One family member might see entertainment as a fundamental part of the budget, while another views it as a luxury that isn’t needed. Finding a common middle ground and sticking to it will guarantee financial success.

A budget is essentially a summary of lists of intended expenses and expected incomes. The aim is to strike a balance between income and expenses. Setting up a family budget can be different from one family to another based on their specific needs. While one family might feel content to save a certain percentage of their income to buy a car another would be satisfied with the idea of keeping their older vehicle and dedicating those funds to an annual family vacation. And not all family budgets are set in place by the family while sitting at their kitchen table. Some family budgets are designed by experienced financial planners and agents. But the intention is always the same, planning for present expenses and also preparing for the unexpected.

When you set out to set a family budget it’s imperative that you consider all of the financial needs and goals of each individual and also the family as a collective whole. Therefore it’s important to include the cost of items such as:

· Children’s college funds.
· Saving for a new home or home improvements.
· Retirement savings.
· Saving for the unforeseeable, such as car repairs or loss of employment.

Every conceivable expense needs to be calculated as you work through the process to set a family budget. Naturally the adults will have the last say as they are generally the ones contributing the income to the running and maintenance of the household. Children’s needs have to be addressed as well, including the possibility of having to purchase items such as prescription eyeglasses or braces. If you don’t have a medical insurance plan to help supplement the cost of these items, they can take a fairly good bite out of your budget.

There are professional financial planners who are highly experienced in working with people to set a family budget. They generally do charge for their services and if you are trying to save money they can be viewed as either an investment or perhaps just an expense if you feel you can handle the process on your own. Another alternative might be to research any workshops in your area that are designed to help when it comes time to set a family budget. These can be either low-cost or no-cost and the information is extremely valuable.

Going through the motions to set a family budget can save you a substantial amount of money over time. No one likes to fall short in the financial department and not be able to provide for their family. With a reasonable budget in place, money worries can be a thing of the past, it just takes some planning and dedication.

Tuesday, August 9, 2011

Creating a budget may not sound like the most exciting thing in the world to do, but it is vital in keeping your financial house in order. Before you begin to create your budget it is important to realize that in order to be successful you have to provide as much detailed information as possible. Ultimately, the end result will be able to show where your money is coming from, how much is there and where it is all going.

Here's How:

1. Gather every financial statement you can. This includes bank statements, investment accounts, recent utility bills and any information regarding a source of income or expense. The key for this process is to create a monthly average so the more information you can dig up the better.

2. Record all of your sources of income. If you are self-employed or have any outside sources of income be sure to record these as well. If your income is in the form of a regular paycheck where taxes are automatically deducted then using the net income, or take home pay, amount is fine. Record this total income as a monthly amount.

3. Create a list of monthly expenses. Write down a list of all the expected expenses you plan on incurring over the course of a month. This includes a mortgage payment, car payments, auto insurance, groceries, utilities, entertainment, dry cleaning, auto insurance, retirement or college savings and essentially everything you spend money on.

4. Break expenses into two categories: fixed and variable.
Fixed expenses are those that stay relatively the same each month and are required parts of your way of living. They included expenses such as your mortgage or rent, car payments, cable and/or internet service, trash pickup, credit card payments and so on. These expenses for the most part are essential yet not likely to change in the budget.
Variable expenses are the type that will change from month to month and include items such as groceries, gasoline, entertainment, eating out and gifts to name a few. This category will be important when making adjustments.

5. Total your monthly income and monthly expenses. If your end result shows more income than expenses you are off to a good start. This means you can prioritize this excess to areas of your budget such as retirement savings or paying more on credit cards to eliminate that debt faster. If you are showing a higher expense column than income it means some changes will have to be made.

6. Make adjustments to expenses. If you have accurately identified and listed all of your expenses the ultimate goal would be to have your income and expense columns to be equal. This means all of your income is accounted for and budgeted for a specific expense.
If you are in a situation where expenses are higher than income you should look at your variable expenses to find areas to cut. Since these expenses are typically essential it should be easy to shave a few dollars in a few areas to bring you closer to your income.

7. Review your budget monthly. It is important to review your budget on a regular basis to make sure you are staying on track. After the first month take a minute to sit down and compare the actual expenses versus what you had created in the budget. This will show you where you did well and where you may need to improve.

Friday, August 5, 2011

Are all the money in the world enough for a lifetime full of whatever you want?
I think not.

Everything changes it's value so fast.
There was the Pentium, Pentium 2 on 400 mhz, Pentium 3 on 800 mhz, Pentium 4 on 1.8 ghz...
Then came the dual core, quad core, eight core processors, what about sexteen cores?
And all these in just less then 20 years.

Just imagine what will be the diferences in more then 50 years?
A person just can't imagine what will come in that much time.

Everything loses it's value over time. Because a new, a better will come to pass.

And yes, you were thinking it the whole time you read this post. The only think that stays the same and doesn't change over a life time - the only think that doesn't lose it's vallue... the family.

So do you value your family? Tell the person netx to you that you love him, because he will continue supporting you the every way he can't.

Tuesday, August 2, 2011

You have XXX dollars in your bank account. You choose how much is the XXX.
Now you have to choose what will you do - you will go on vacation with your family/friends or you will buy a brand new BIG SCREEN tv?

The vacation will be only for a week... but will be gorgeos - do whatever you want, in some cool please, with wanderfull company.

Well.. the Big Screen TV is SO SO SO Awesome!

You decide what to do with your budget. You have XXX dollars in your bank account.

Sunday, July 31, 2011

Are you ready for vacation?
Do you want to have a niceee loong holiday?

Wel this depends on the family budgets.

If you want you can go to the page, you can go to some mountain tourism, you can just visit the grandpas.

Anyway - the whole point of making money is to spend them. And what makes us more happy then spanding money on some good holiday after long investents in the bank for an year? Ofcourse - the holiday :)

About Me

I have 3 blogs that I love to write about - for family budget, for education and for minecraft server plugins.
But I am such a huge fan of untouched by people places - the real nature, photography, movies, video games and the internet.
If you like what I do leave a comment on some of my posts and if you like to join the blog too.